That is, News Corp.'s iPad-only newspaper is the closest
thing we've seen to Condé Nast's glitzy business magazine, which
launched with much hype and flamed out during the financial
crisis a couple of years ago.

And like Portfolio, we expect The Daily to be disbanded, before too long.

The biggest problem is that The Daily still hasn't given us a
reason to read it, whether through interesting stories, great
writing, or captivating production. (Nevermind The Daily's
well-documented technology problems -- perhaps the WSJ or New York Post can use some of the iPad app or server code.)

We think we're the target audience. But we still have no
drive to ever open the app -- let alone pay the $0.99 per week
that they want from us, now that the free trial is over.

It is very hard to build an audience from scratch -- we get that.
But it's even harder to justify a huge, expensive project with a
small audience than if it were a scrappy, bootstrapped project.